From next year all UPI transactions will have new limits, features, and more.
The National Payments Corporation of India (NPCI) has implemented a significant enhancement to the UPI 123Pay transaction limit, increasing it from ₹5,000 to ₹10,000.
To fortify security and optimise system performance, inactive UPI accounts will undergo a mandatory closure process, commencing January 1, 2025.
The Department of Telecommunications (DoT) has initiated a transformative initiative by implementing paperless Know Your Customer (KYC) procedures for the issuance of new SIM cards.
Complimentary airport lounge access will be granted to RuPay credit cardholders based on a tiered spending threshold, thereby introducing a structured framework for this exclusive benefit.
Users now possess the capability to seamlessly connect their Prepaid Payment Instruments (PPIs), encompassing wallets, to any UPI application.